Watch sales at the world's No.1 luxury goods group LVMH are expected to grow by 5-7 percent this year, in line with the Swiss watch industry, the new head of the French group's watch unit said in an interview on Monday.

Online cosmetics retailer Jumei.com hired Credit Suisse and Goldman Sachs to manage an up to $600 million initial public offering in the United States, joining other Chinese firms queueing to raise funds there as technology company valuations soar.

Fashion accessory maker and retailer Fossil reported better-than-expected quarterly results as it sold more watches and jewelry in North America, its largest market. Fossil's shares rose 7.3 percent in extended trading.

Swiss watch exports to China rose in December, data showed on Thursday, adding to signs a difficult spell for luxury goods makers in an important market may be coming to an end after Swatch Group's upbeat statements on Wednesday.

LVMH said watches and jewelry head Francesco Trapani would step down on March 1, becoming an advisor to group Chairman Bernard Arnault and keeping his seat on the board of directors of the world's biggest luxury group.

After leveraging knowledge of Chinese manufacturing and trade, technology and the Mandarin language to create Proper Suit, a company that sells high-quality, Chinese-made, custom laser-cut suits online. In just two years, Proper Suit reached $1 million in sales.

The Swiss Swatch watch group, a vital supplier of parts to rivals, is to be freed from part of this obligation, a watchdog has said. Swiss regulator Comco said it had approved a landmark deal with Swatch Group allowing the watchmaking giant to sell fewer mechanical movements to the rest of the sector.